GoDaddy Inc. $GDDY Shares Bought by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its stake in GoDaddy Inc. by 17.4% during Q1, acquiring an additional 25,095 shares, bringing its total ownership to 169,716 shares valued at approximately $30.57 million.
• GoDaddy reported earnings of $1.41 per share for the last quarter, exceeding estimates and marking an 8.3% year-over-year revenue increase to $1.22 billion.
• Institutional investors hold a significant portion of GoDaddy, with 90.28% of the company’s stock owned by institutional investors and hedge funds.

Alliancebernstein L.P. raised its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 17.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,716 shares of the technology company's stock after purchasing an additional 25,095 shares during the quarter. Alliancebernstein L.P. owned 0.12% of GoDaddy worth $30,573,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. City Holding Co. grew its stake in shares of GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares during the last quarter. Equitable Trust Co. grew its stake in shares of GoDaddy by 1.0% in the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock valued at $1,199,000 after purchasing an additional 64 shares during the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock valued at $1,435,000 after purchasing an additional 67 shares during the last quarter. Allworth Financial LP grew its stake in shares of GoDaddy by 4.9% in the 1st quarter. Allworth Financial LP now owns 1,575 shares of the technology company's stock valued at $284,000 after purchasing an additional 73 shares during the last quarter. Finally, Invst LLC grew its stake in shares of GoDaddy by 1.0% in the 4th quarter. Invst LLC now owns 7,521 shares of the technology company's stock valued at $1,484,000 after purchasing an additional 74 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total transaction of $169,590.00. Following the completion of the transaction, the chief operating officer directly owned 253,949 shares of the company's stock, valued at approximately $43,067,210.91. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Leah Sweet sold 650 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total value of $91,741.00. Following the completion of the transaction, the director directly owned 12,064 shares of the company's stock, valued at approximately $1,702,712.96. This trade represents a 5.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,828 shares of company stock valued at $5,248,928 in the last 90 days. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on GDDY shares. Wells Fargo & Company lowered their target price on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Citigroup reduced their price target on GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a report on Friday, August 8th. Raymond James Financial reduced their price target on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. Piper Sandler set a $182.00 price target on GoDaddy and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada reduced their price target on GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $202.43.

GoDaddy Price Performance

GDDY stock traded up $0.59 during midday trading on Monday, hitting $145.68. 1,323,192 shares of the stock were exchanged, compared to its average volume of 1,468,406. The stock's 50-day moving average price is $154.27 and its 200-day moving average price is $170.15. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.57 and a beta of 1.02. GoDaddy Inc. has a fifty-two week low of $132.51 and a fifty-two week high of $216.00. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.GoDaddy's revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.